AMC Is New King of Meme Stocks, With a 2,900% Gain This Year
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AMC Entertainment Holdings Inc.’s Reddit-fueled rally has reached about 2,900% so far this year as retail traders ignore the company’s financial troubles and continue to buy heavily shorted stocks.
Shares of the movie-theater chain nearly doubled on Wednesday -- adding to Tuesday’s 23% gain -- after it announced a program called AMC Investor Connect that will reward small-time investors with goodies such as special screenings and free popcorn.